Daily Newsletter - March 18, 2024

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Latest additions to CAalley:

News Update:

Indian News

International News

From the ICAI:

ICAI Announcement

Legal Updates:

DGFT

Customs

Central Excise

News Update:

Indian News:

RBI warns banks of increase in cyber threats: Shares action points

Rajasthan govt prepares draft policy to boost exports via ease of doing biz

Delhi ITAT rejects tax claim for virtual services provided by global law firm

Sebi nod to T+0 settlement for limited stocks, eases norms for FPIs

CGST officials arrested for accepting Rs 1.5L bribe in Mumbai

Audit plays catalytic role in promoting efficiency, effectiveness: CAG

International News:

Hong Kong’s Article 23 law: Auditors call for clarity amid fears over handling confidential information linked to possible state secrets

AICPA makes recommendations for digital asset transactions regulations

From the ICAI:

ICAI Announcement:

Revised Applicability of Peer Review Mandate (Phase II & III)

Legal Updates:

DGFT:

Changes in origin declaration for Self-Certification under UK Developing Countries Trading Scheme (DCTS) [Trade Notice No.39]

Amendment in import policy condition of Urea [Exim Code 31021010] in the ITC (HS) 2022, Schedule – I (Import Policy) [Notification No.79]

Amendment in Import Policy Condition for Duck Meat under Chapter 2 of ITC (HS) 2022, Schedule -I(Import Policy) [Notification No.78]

Imposition of Minimum Import Price on Synthetic Knitted Fabrics up to 15th September 2024 [Notification No.77]

Customs:

BCD Rates to notify third tranche of India-UAE CEPA - Amendment to Notification No.22/2022 [Notification No.21]

Seeks to further amend No. 11/2018-Customs, dated the 2nd February, 2018, to exempt SWS on EVs imported under of the Ministry of Heavy Industries' Scheme to promote manufacturing of electric passenger cars in India [Notification No.20]

Seeks to amend No. 50/2017-Customs, dated the 30th June, 2017 to give concession to EVs imported under of the Ministry of Heavy Industries' Scheme to promote manufacturing of electric passenger cars in India [Notification No.19]

Seeks to amend Notification No. 58/2021-Customs (N.T.), dated the 01.07.2021 under sub-section (2) of Section 151B of the Customs Act, 1962 to notify Agreement or Arrangement on Cooperation and Mutual Administrative Assistance (CMAA) in Customs Matter of India and with other Countries [Notification No.23(NT)]

Seeks to extend ADD on Aluminium Road Wheels imported from China PR [Notification No.7(ADD)]

Prohibition for import of ferocious breeds of dog [Instruction No.5]

Central Excise:

Seeks to amend No. 18/2022-Central Excise, dated the 19th July, 2022 to increase the Special Additional Excise Duty on production of Petroleum Crude [Notification No.10]